Calvin deposited 12600 into a savings account and he didn't make a deposits or withdrawls for a year. if after interest was paid for a year. calvin's new balance was 13,246.38, what was the apy of savings account?
a. 5.13%
b. 0.95%
c. 9.51%
d. 0.51%

Savings account follows the simple compounding interest formula, thus F=P(1+i)^n
where
Future amount= 13246.38
Present worth= 12600
n=1, 1 year
substitute the values in the given formula, i= interest/100
i= 5.13%
APY for Calvin's savings account is 5.13%. Hope this helps you.